Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Keeler & Nadler Financial Planning & Wealth Management

Keeler & Nadler Financial Planning & Wealth Management lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 914.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,385 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,150 shares during the quarter. Keeler & Nadler Financial Planning & Wealth Management’s holdings in Broadcom were worth $411,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Brevan Howard Capital Management LP purchased a new position in shares of Broadcom during the 4th quarter worth approximately $1,225,000. Bell Investment Advisors Inc grew its stake in shares of Broadcom by 18.6% during the 4th quarter. Bell Investment Advisors Inc now owns 134 shares of the semiconductor manufacturer’s stock worth $150,000 after purchasing an additional 21 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Broadcom by 7.9% in the 4th quarter. Baird Financial Group Inc. now owns 176,061 shares of the semiconductor manufacturer’s stock valued at $196,529,000 after purchasing an additional 12,958 shares in the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Broadcom by 8.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 16,909 shares of the semiconductor manufacturer’s stock valued at $18,875,000 after purchasing an additional 1,340 shares during the period. Finally, Gotham Asset Management LLC boosted its holdings in Broadcom by 4.0% during the fourth quarter. Gotham Asset Management LLC now owns 25,579 shares of the semiconductor manufacturer’s stock worth $28,553,000 after buying an additional 988 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America reiterated a “buy” rating and set a $215.00 price target (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Rosenblatt Securities cut their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Piper Sandler increased their price objective on shares of Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley increased their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

Broadcom Stock Performance

Broadcom stock opened at $185.69 on Friday. The company has a market cap of $864.36 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock’s 50-day moving average is $161.39 and its 200-day moving average is $150.97.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.14%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,230 shares of company stock valued at $47,190,190 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.